EU’s left hand doesn’t know what the right hand is doing

A UN document provides a fantastic indictment of the hypocrisy of EU leaders (hat tip to New Rules for Global Finance). The submission, dated 18 May 2011, by the European Union delegation to the United Nations is in relation to “the role of the UN in global economic government. It reads:

“7. However, it should be noted that the reform of the BWIs would be incomplete by
focusing purely on the question of quota and voice. The review of the Fund’s and Bank’s
governance should be comprehensive and address the full range of reform elements. For
instance, an open and transparent process for the selection of senior management, based on
merit and regardless of nationality, is still an important issue to be tackled, as well as the
promotion of staff diversity to better reflect the global nature of the BWIs.”

Really now? You don’t say? And who would it be that needs to “tackle” the issue? Would it perhaps be the Europeans themselves?

Also nice to see that this document is dated after Strauss-Kahn’s arrest and when it was pretty clear that he would need to be replaced. Of course it was prepared in advance and consulted on with member states. But it signals that right up until the arrest, EU member states had consensus agreement on the need for a merit-based process without regard to nationality.

Christine Lagarde did formally announce her candidacy for the top of the Fund yesterday, including the statement “I’m not arguing for my candidacy because I’m a European. Being a European shouldn’t be a plus and it shouldn’t be a minus.” Nice of her to pander after so many European countries already said that being a European is a plus. Another example of EU doublespeak.

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